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2013 and earlier Dodge Charger Lease Questions

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  • I live in NY and will be coming out of my lease of a Dodge Durango in January but want to see if the dealer will absorb some of the payments. I want to lease a 2007 Dodge Charger SXT All Wheel drive through Chrysler Financial for 36 or 39 months with 12,000 miles per year depending on which will be a lower payment. I priced one out at $28,400. What is a good monthly payment with no money down? Are the dealers flexible with the cost? Is Dodge or Chrysler Financial offering any lease cash rebates/incentives on this vehicle?
  • Hi tbone08. When you say that you "price one out" at $28,400, do you mean that this is this car's MSRP or selling price? I need both of these numbers to estimate what this car's lease payment should be for you. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. When negotiating your selling price for this car, keep in mind that DaimlerChrysler is currently providing a $500 bonus on it for leases through Chrysler Financial. Anyhow, let me know what the MSRP and selling price are and I'll crunch some numbers for you.

    Car_man
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  • Hi Car_man. I got that price off one of the internet buying sites. I just configured the vehicle again on Edmunds.com. The MSRP is $31,395, the Invoice is $29,101 and TMV is $30,341. Thanks for the heads up about the $500 bonus. Where can I find that information to print out? Also, since I am a currently leasing through Chrysler Financial would they provide me with a "Lease Loyalty" bonus as well?

    Thanks.
  • I want a short term lease and looking at different cars, at first I dint want American but i thought if i was leasing what would it matter. I like the charger and the 300 limited and I wanted to know whats the lowest price people have gotten on a v6 with navigation? I am in NY if it matters. I am interestedin a price in the 300's if not lower
  • Hey tbone08. You can find out what incentives are currently available on this car by visiting the following section of this site: Edmunds.com Current Incentives & Rebates. If you have any questions about the programs that are listed in that area please feel free to ask and I'll try to answer them for you. DaimlerChrysler usually provides a $1,000 lease loyalty incentive on select models, unfortunately the 2007 Dodge Charger is not one of them.

    Car_man
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  • Car_man;

    Great site! I would like to lease a 2006 R/T Charger, MSRP - $34,360. "My price" is $32,461 minus $2,000 in rebates ($30,461 for the car).

    I am being told a 39 month lease with 15k miles will be about $564 with nothing down. That price includes all NY taxes and dealer charges.

    What is the residual for this car? and what does "Rate lease money factor" mean?

    Is there anything I am missing? This is a business car and I want to make sure I am getting the best deal for the company and our shareholders.

    Thanks!
  • Hi Car_man, Thanks for the info. Can you run lease numbers for me? I would like to lease a 2007 Charger SXT AWD, New York State MSRP -$30,810, My price is $28,803. Terms 36months/12k miles per year. No money down. What is the monthly payment?
  • Hi team118. Money factors are used to calculate the interest portion of vehicles' monthly payments (residual values are used to calculate the other part, the depreciation portion). A vehicle's "buy rate" lease money factor is the number that is published by the bank that you are leasing through. Banks essentially provide dealers with a list of what their buy rates are for every vehicle that they lease. It is important to know what the buy rate is for the vehicle that you want to lease because dealers are often allowed to "mark-up" vehicles buy rates to add additional hidden back-end profit to deals. By marking your vehicle's money factor up, dealers are essentially charging you a higher interest rate for your lease and then getting a kickback from the bank. This is not as much of an issue with a lease through Chrysler Financial as it would be for a lease of a luxury brans, like BMW. BMW dealers are notorious for marking up vehicle's money factors. You can see exactly how vehicles' money factors are used to calculate lease payments by checking out the following article: Calculate Your Own Lease Payment.

    Having said all off this, unfortunately DaimlerChrysler is no longer providing lease support on 2006 models. If you really want to lease a Dodge Charger, you actually may be better off going with a 2007 model. It will have a much more attractive lease program available on it right now, i.e. a lower money factor and a higher residual value.

    Car_man
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  • No problem, tbone08. I'd be happy to crunch some numbers for you. According to my calculations, if you were to lease a 2007 Dodge Charger SXT AWD that has an MSRP of $30,810 and a selling price of $28,803 through Chrysler Financial right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $475.

    Car_man
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  • sdcapsdcap Posts: 6
    Does anyone know the current Lease Money Factors and Residuals for Chargers? I cant seem to google a buy sheet with this info. Trying to figure out which lease program is most advantageous.

    Thank you in advance.
  • rain33rain33 Posts: 2
    I have been looking at cars for while and love the charger - SXT w/ AWD. Would it be better to wait for an 08 model? Any changes in trim or options in the next year? Plus, which year is going to have better "incentives" for a new lease?
  • kmouradiankmouradian Posts: 32
    Car_Man,

    My lease on my 2004 Chrysler Crossfire isn't up till the end of Sept. I recently got a letter stating that Chrysler will waive my last 5 lease payments if I decide to stay within the Chrylser family.

    Looking at possibly leasing a 2007 Charger SRT-8. I know there is $3500 lease cash available. Just need to know what the money factor and residual is. This would be for a 36 month lease at 15k miles/yr.

    Thanks and hopefully will be sporting a new SRT-8 soon! Yes, I know gas is $3.00/gallon and it gets 14/20 EPA. But you only live once! :shades:
  • drwilydrwily Posts: 3
    Hey kmourdian I'm not Car Man but I think I can help. Since the introduction on the lease cash I myself am about to lease a Charger. If you go with 36 months your residual is 54% and your money factor is .00312. However, I went with 27 months which has a factor of 62% and a money factor of .00269. Hell of a choice this thing is a beast! Good luck.
  • garretohmgarretohm Posts: 1
    Have you thought about going to a dealer-only site like www.automart.com?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings sdcap. This car's lease program varies by term, mileage allowance, and trim level. For now I will assume that you are interested in a 36 month lease of a 2007 Dodge Charger SXT with 15,000 miles per year. Let me know if you want something different. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of an '07 Dodge Charger SXT with 15,000 miles per year are .00254 and 49%, respectively in most of the country if you qualify for its top credit tier. I said "most of the country" because this car has s slightly better lease program in DaimlerChrysler's Northeast region. When negotiating your lease on this car, make sure to take advantage of the $1,500 lease cash and $500 bonus cash ($2,000 total) that are available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings rain33. I don't personally know much about what if any changes are being made to the 2008 version of the Dodge Charger, but you may be able to find out by visiting the following discussion: "Dodge Charger 2006+". It's difficult to say what the 2008 version's lease program will be like when it is introduced. I personally doubt that it will be any better than DaimlerChrysler's current lease program on the 2007 model though.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi kmouradian. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Dodge Charger SRT-8 with 15,000 miles per year are .00266 and 54%, respectively in most of the country (its lease program in its Northeast region is slightly better).

    Car_man
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  • nathans2nathans2 Posts: 2
    I want a dodge charger SXT with an MSRP of 31,220 i want to put 2000 down.. what should the monthly payment be around? is 300$ a month a possibility?
  • Hi Car_man,
    See next message...
  • Hi Car_man,
    I'm looking for residual and money factor for a 2007 Charger R/T in the NorthEast (Massachusetts).
    36mo./12Kmi.
    24mo./12Kmi.
    My '04 Pacifica lease is ending and with lease loyalty ($1K) plus the rebate & bonus ($3.5K), the Charger looks like a nice option. :shades:
  • johndobjohndob Posts: 1
    Hi,

    Does anyone have the current money factor and residual value % for 2007 Dodge Charger R/T?
    The leasing term is for 27 months, 15,000 miles/year, through Chrysler Financial.

    Thanks for your help!
    John Dobra
  • kmouradiankmouradian Posts: 32
    Car_man,

    Looks like the money factors are still high on the Chargers for June.

    I see that Chrysler took the rebates away for the SRT vehicles. Does this mean they have decreased the MF for July?

    Also, am considering leasing a plain Charger R/T instead. Looks like $4500 in rebates if I take advantage of lease loyalty. What are the MF and residuals for the standard R/T in July? 15k/yr and either 36 or 39 month. Whichever is most advantageous. For the Southeast, btw.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi nathans2. This car's lease payment will depend upon what sort of selling price you are able to negotiate on it. I would be happy to use Chrysler Financial's current lease program to estimate what your payment would be on it right now, but in order for me to do so I need you to provide me with its approximate selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. It is difficult to tell how good a deal you are getting on a leased vehicle without knowing what this number is. Let me know and I'll do some calculations for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi retrorotor. Chrysler Financial's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Dodge Charger R/T with 12,000 miles per year in its Northeast region are .00137 and 55%, respectively. The numbers for an otherwise identical 36 month lease are .00243 and 49%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi John. I haven't seen this car's 27 month lease program, but I have seen its 24 month program. If you were to lease a 2007 Dodge Charger R/T through Chrysler Financial right now in its Great Lakes region for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00137 and 54%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi kmouradian. Chrysler Financial's lease program for this car vary by region. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Dodge Charger R/T 2WD with 15,000 miles per year in its Southeast region are .00322 and 47%, respectively. The money factor would be the same for a 39 month lease, but its residual value would be 46%.

    Car_man
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  • Hello,
    Can someone, please, tell me what the residual value for a 2007 RT would be on a 36 mo lease, 12K miles in South Florida? Also, would the number be any different for a 2008 Charger, same conditions?

    Thanks in advance!

    Nayden
  • Where can I find out the residual value and money factor for a 2008 charger r/t in s.california?
    Is the money factor negotiable in any way? Is it set by the lease company and if so can the dealer inflate it and profit from the difference?

    Thanks
  • Greetings aaronlucy. Here is the information that you are looking for. This car's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Chrysler Financial's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Dodge Charger R/T 2WD with 15,000 miles per year are .00208 and 50%, respectively. Dealers are not allowed to lower banks' published residual values, but they are often allowed to mark them up to add additional hidden back-end profit to deals.

    When negotiating your lease on this car, make sure to take advantage of the $3,000 lease cash that Chrysler is currently providing on it. This cash will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • Well I thought I had my mind all made up with a recent quote on an '08 Accord LX-P for $269/month for 36months/12k/yr with only $696 down. Factoring in the downpayment, that's about $288/month.

    I'm wondering if I can get the new Charger for anywhere near that. I'm located in MA if that helps.

    I did some of my homework. I know the '08 Charger SXT with "G" package MSRP is $26,360($25,685 + destination of $675).

    Minus the $2,000 incentive brings me down to $24,360. Invoice on the car is $23,867 or $24,542 with the destination charge added.

    I'd like to do a 36 month lease with 10,500 mi/month.

    Can anyone provide me with the money factor and residual value based on these figures? I am using the lease calculator at www.leaseguide.com although it doesn't seem to put out the same numbers as the dealers I've talked to.

    Does anyone recommend a different lease calculator? Thanks for your time!
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